Traffic Kindness & Real Estate Happenings on Sanibel & Captiva

Posted on March 28, 2014 by SanibelSusan

It’s another Happy Friday at SanibelSusan Realty. Once again it was a busy seven days on the islands. SanibelSusan listings had good inquiries and showing activity. One listing went under contract. Another has been accepted verbally, and several offers on other listings are being negotiated. We got four new condo listings too, all with showings already scheduled tomorrow. A report below after a couple of news items lists all of the action posted in the Sanibel and Captiva Multiple Listing Service. It was another good week for real estate even with the heavy traffic.

Speaking of traffic, I read the below editorial by Sidney B. Simon in yesterday’s edition of the “Island Reporter” and asked him if I could share it in my blog. With his permission, here it is:

Traffic Kindness

“To the editor: Traffic is awful. Tempers flare. Road rage is pending. And just think what it would be like without those marvelous, competent Traffic Police? So yell a thanks as you go by.

“But, there’s something else each of us could do. We could, yes we could, let someone in. For example, when we see a car that has to make a left turn coming down from the library. Or even a right turn coming out of Dixie Beach. Or any turn coming out of one of the shopping centers or the post office.

“A little traffic kindness could ease the pain. And, here’s a simple plan to encourage that.

“If you drive an SUV and you see an SUV trying to get onto Periwinkle, you stop traffic and let it in, and include one other car behind it, not matter what it is. It’s amazing what one SUV can do to help.

“Now, take it further. Every pickup truck lets in a pickup truck. Every convertible could make it a habit to let any other convertible in. Every German car lets a German car onto Periwinkle. You know you German cars can recognize a Mercedes, a BMW, or VW. Let one in. Then every Japanese or Korean car owner, stops and welcomes in one of their breed. Hummers and Yugos may have some problems. If you drive anything else, I leave it to you to figure out what kindness you want to perform.

“One of the nice things about being stuck in traffic, you and your passengers can start a conversation about kindness, how it needs to be encouraged, and what we can teach our grandkids about some of the kindnesses we have done during our long life. Kindness is one of the legacies we leave behind. I welcome your comments. Sidney B. Simon, Sanibel Island”

REALTORS® Forecast Home Price Increases

This article was posted on Monday on “Daily Real Estate News”. With the wonderful weather in Florida this winter, I bet Florida ends up leading the pack in this year – particularly on the islands where most buyers pay cash.

“REALTORS® expect home prices to continue to rise over the next 12 months. But they expect them to do so at a moderate pace, given tight credit conditions and the chipping away of home affordability, according to the latest REALTORS® Confidence Index, a monthly survey distributed to more than 50,000 real estate practitioners to gauge expectations over home sales, prices, and market conditions.

“Real estate professionals reported a median price expectation of 3.9% over the next 12 months. The states where practitioners are predicting the biggest increases—5 to 7%—are in California, Florida, Alaska, and Hawaii. Tight inventories have helped to lift home values in these areas, according to the survey. “In states with booming economies like Washington, North Dakota, Texas, Michigan, and the D.C.-metro area, the expected price increase is about 3 to 5%,” according to the report.

“Real estate professionals also expressed several concerns over the housing market holding back some buyers, particularly due to “unreasonably” tight credit conditions. “Access to credit was often cited as a deterrent to home buying,” according to the report. “About 13% of REALTORS® who did not close a sale in February reported having clients who could not obtain financing.” In those cases, about 6% of the professionals said their buyer gave up, while 7% said their buyer continued to seek new or other financing. Other transaction hang-ups were lack of agreement on a price (accounting for 11%); buyer losing a home to competition (10%); and appraisal issues (3%).”

FEMA Outlines Next Steps for Flood Insurance Law

FloridaRealtors® on-line posted the following notice yesterday:

“In testimony before a U.S. House subcommittee, Federal Emergency Management Administration (FEMA) Administrator Craig Fugate talked about the timing of implementation. He suggested that homeowners and buyers be patient – it may take awhile for the law’s mandates to filter down to insurance agents.

“President Obama signed the flood insurance law on Friday, but FEMA has up to eight months to develop guidance for insurance companies, according to Lisa Jones, a consultant hired by the National Association of Realtors® (NAR) to navigate the complicated law. And after FEMA solidifies the new rules, insurers have up to six months to retool their software.

“Rep. Steven Palazzo, vice chairman of the House Subcommittee on Emergency Preparedness, Response, and Communications, asked Fugate at a hearing yesterday if there was a way to fast-track the process. According to Fugate, the first step is to explain the grandfathering clause – where a homebuyer pays the same rate as a home seller in areas where FEMA subsidizes some flood insurance rates – to insurance agents in the field because “It’s going to take time to get that out there to every agent and get that into the system.”

“Fugate says buyers, at least in the short term, may have to work with both their insurance agent and FEMA to get the correct flood insurance rate. FEMA “may need to handle some of the immediate (flood insurance rate requests) – literally, hand-walk it through the process until the system is fully up and running with the new changes,” he testified.

“Fugate pointed to one part of the new law that would take time to calculate: A mandate that no single premium exceed 18%, and “we’re looking at the timeframes you gave us to do refunds” for homeowners who already paid a higher flood insurance premium.

“Fugate said the new mandatory caps will also impact all calculations for rate increases, and it will take FEMA time to do that, followed by software changes to programs that insurers use to quote rates to homeowners.”

Florida Working to Protect Water Quality

Here is some excellent news. These excerpts are from a www.flgov.org article entitled “Governor Rick Scott’s FY 2014-2015 Recommended Budget Highlights”. That budget is now approved! This is all good news for Southwest Florida. The next step is to get the Federal Government to be more proactive on water quality too. Florida Realtors® locally, state, and nationally have been pushing for this for years!

“Protecting Florida’s Economy, Water Supply, and Environment through the Restoration of the South Florida Ecosystem and Florida’s Everglades: The Governor’s It’s Your Money Tax Cut Budget commits an historic $180 million dollars towards restoring and protecting the Everglades and Florida Keys. This is a $110 million increase from the FY 2013-2014 budget.

“Florida’s Everglades: The Governor continues his commitment to Everglades by committing $130 million for restoration projects.

• Restoring America’s Everglades means reestablishing its natural water flow to the 2.4 million-acre marsh, reviving habitat for more than 60 threatened and endangered species, creating a reliable water supply for millions of Floridians and providing flood control to South Florida.

• The funds provided will implement the Governor’s water quality plan for the Everglades and continue the state’s commitment to the Comprehensive Everglades Restoration Plan (CERP). It will also fund critical projects such as the Kissimissee River restoration and the raising of an additional 2.6 miles of Tamiami Trail to allow more water to flow into Everglades National Park.

• In addition, funding is provided to the Department of Agriculture and Consumer Services for implementation of agricultural nonpoint source controls in the Okeechobee, Caloosahatchee, and St. Lucie River watersheds. Together, these projects will provide clean water for the Everglades and reduce the excessive flow of water into the St. Lucie and Caloosahatchee River estuaries.

“Wastewater Treatment Upgrades: The Governor’s Budget also provides $50 million for wastewater treatment upgrades in the Florida Keys.

“Protecting Florida’s Springs, Lakes, Rivers, and Estuaries: Governor Scott’s Budget provides $55 million for springs protection and restoration, including ensuring the protection of the groundwater supply in Central and North Florida. This is a $45 million increase in funding from FY 2013-14.
Governor Scott’s Budget also provides the following funding for water resource protection:
• $17 million for nonpoint source pollution management grants;
• $9.4 million for total maximum daily loads;
• $77.2 million for drinking water facility construction, an increase of $4.3 million from FY 2013-2014;
• $161.6 for wastewater treatment facility/storm water construction, an increase of $18.8 million from FY 2013-2014; and $8 million for lake restoration.

“Protecting Beaches: Over 220 miles of beaches, or 55% of all Florida beaches, that were designated as critically eroded have been restored and maintained through partnerships with local, state, and federal governments. Governor Scott’s Budget provides $25 million of financial assistance to local and state governments and special taxing authorities for beach and dune restoration, beach nourishment, inlet sand bypassing, regional sediment management and innovative projects. This funding adds to the more than $393 million in state funding for beach and inlet management provided over the last 10 years.”

Sanibel & Captiva Islands Multiple Listing Service Activity March 21-28, 2014

Sanibel
CONDOS
6 new listings: Sanibel Moorings #1322 2/2 $419K, Cottage Colony West #119 1/1 $599K (our listing), Sand Pointe #122 2/2 $749K (our listing), Sanibel Surfside #123 2/2 $874K (our listing), Kings Crown #302 2/2 $899K (our listing), Sanibel Seaview #B1 3/3 $1.395M.
6 price changes: Captains Walk #C1 2/1 now $310K, Sunset South #1C 2/2 now $455K, Island Beach Club #P2A 2/2 now $474K, Loggerhead Cay #583 2/2 now $595K, Sandals #D 4/3 now $1.975M, Seascape #104 3/3 now $2.295M.
9 new sales: Donax Village #9 1/1 listed for $249.9K, Kimball Lodge #263 1/1.5 listed for $349K, Sanibel Arms #C4 2/2 listed for $489.9K, Compass Point #212 2/2 listed for $569K, Pointe Santo #E32 2/2 listed for $739K, Sundial #E208 2/2 listed for $799K, Surfside 12 #B1 3/2 listed for $869K, Beachcomber #C302 2/2 listed for $1.695M, Sedgemoor #103 3/3.5 listed for $2.55M.
2 closed sales: Tennisplace #D33 1/1 $170K, Sundial #O205 2/2 $755K.

HOMES
5 new listings: 5141 SanCap Rd 2/2 $350K, 1827 Middle Gulf Dr 2/2 $525K, 553 Lake Murex Cir 3/2 $579K, 739 Elinor Way 3/3 $599K, 564 Hideaway Ct 3/2 $599K.
11 price changes: 966 Fitzhugh St 2/1 now $324K; 1481 Sand Castle Rd 2/2 now $524K; 3001 Singing Wind Dr 3/2 now $569,555; 3168 Twin Lakes Ln 3/2 now $614K; 1744 Bunting Ln 4/2 now $627.7K; 4279 Gulf Pines Dr 4/3 now $729.75K; 987 Sand Castle Rd 4/3.5 now $749K; 1291 Sand Castle Rd 5/3.5 now $825K; 1232 Isabel Dr 3/3 now $1.79M; 1800 Woodring Rd 2/2 now $1.795M; 696 Kinzie Island Ct 4/5 now $2.459M.
8 new sales: 531 Birdsong Place 3/2 listed for $448K; 1555 Bunting Ln 2/2 listed for $449K; 1121 Skiff Pl 3/2 listed for $545K; 1252 Sand Castle Rd 3/2 listed for $549K; 1356 Tahiti Dr 2/2 listed for $674K; 2667 Coconut Dr 3/3 listed for $825K; 909 Lindgren Blvd 4/3 listed for $1,199,999; 5423 Osprey Ct 3/2.5 listed for $1.479M.
3 closed sales: 9459 Begonia Ct 3/4 $545K, 1705 Serenity Ln 3/2.5 $551.75K, 211 Daniel Dr 3/2 $725K.

LOTS
1 new listing: 0 Dinkins Lake Rd $240K.
2 price changes: 667 Birdie View Pt now $349K, 5830 SanCap Rd now $395,555.
2 new sales: 1118 Sand Castle Rd listed for $199K (our listing), 5749 San Cap Rd listed for $399,555.
1 closed sale: 990 Beach Rd $525K.

Captiva
CONDOS
2 new listings: Bayside Villas #5128 1/2 $325K, Gulf Beach Villas #2012 2/2 $622.5K.
No price changes, new or closed sales.

HOMES
1 new listing: 15009 Binder Dr 4/5.5 $4.495M.
1 price change: 16249 Captiva Dr 3/3 now $2.495M.
No new sales.
1 closed sale: 15127 Captiva Dr 8/8 multi-family $1.45M.
LOTS
Nothing to report.

This representation is based, in whole, or in part, on data supplied by the Sanibel & Captiva Islands Association of Realtors® or its Multiple Listing Service. Neither the association nor its MLS guarantees or is in any way responsible for its accuracy.

’til next Friday, this Realtor will be working 24/7.
It’s a great time of the year in the real estate business on the islands! Woohooo!
SanibelSusan

Spring Has Sprung on Sanibel & Captiva Islands

Posted on March 21, 2014 by SanibelSusan

There has been lots of island traffic this week, probably because the county schools are closed for spring break, plus the increased activity from the lingering winter weather elsewhere.

Woodring Point Osprey Imposter, photo from The Shews

Here are a couple of news items followed by the activity posted in the Sanibel & Captiva Islands Multiple Listing Service over the last seven days.

March Sanibel & Captiva Islands Assoc of Realtors® Monthly Membership Meeting

Yesterday was our local Association of Realtors® Monthly Membership Meeting with two speakers:

The International Osprey Foundation – The first speaker was Jim Griffith from The International Osprey Foundation. The International Osprey Foundation is dedicated to the continuing preservation and recovery of the osprey, others in the raptor family, wildlife and the environment as a whole. The foundation conducts monitoring activities and accumulates data specific to the breeding activities of the osprey population on Sanibel.

Jim said that back in the early 1900’s the island was home to about 60 osprey nests. These raptors have 360-degree vision, are expert fishers (they are also known as the fish hawk), and reside in almost any area that has a large body of water.With the introduction of the pesticide DTT, development, predators, and Mother Nature, the number of nests declined. Nests on Sanibel were at a low following the storms of 2004/2005, but today there are 133. Though these birds like to nest on tall Norfolk pines and electrical poles, here about 40% of the nests are now on man-made platforms which LCEC (Lee County Electric Coop) often assists the foundation in erecting.

If you need help in adding a nesting pole to your property or in relocating an existing nest, contact Jim through the Foundations web site www.ospreys.com.

To move a nest, a permit is required from the Florida Fish and Wildlife Conservation Commission. These local nests are monitored every few weeks (Jan through May) by a group of 40 volunteers who reported that 97 osprey chicks fledged on Sanibel last year.

Realtor & Assoc Board Member, Lori Pierot making presentation to Jim Griffith for the International Osprey Foundation.

As part of our Realtors® continued support of island non-profits and charities, The International Osprey Foundation was presented with a donation from the Association of Realtors®.

Jim also reported that Sanibel now has a new species too, the swallow-tailed kite. At the Foundation annual meeting at The Community House on Sunday (Mar 23) at 7 p.m., Dr. Ken Meyer, an avian researcher, will be the keynote speaker. He is an expert on these birds. One of the most beautiful birds in Florida, the unmistakable, elegant swallow-tailed kite is recognizable for its deeply forked tail, distinctive black and white plumage, and graceful aerial displays.

Flood Insurance Update – Kim Kovacs from Heidrick & Company Insurance updated members on the bill that was passed in the Senate last week and is awaiting signature by the President. Though still not official, it looks like some relief is in sight. How long will it take for the President to sign and then FEMA to determine how to implement the bill? Kim said FEMA told her company that it will be at “lightning speed”. More realistically that probably means 6 months to a year.

Here’s a summary of what is in this new bill. It is from an article by Andrews G. Simpson, posted on www.insurancejournal.com on March 13:

“Prevents Skyrocketing Rate Increases

• Creates a firewall on annual rate increases – Prevents FEMA from raising the average rates for a class of properties above 15% and from raising rates on individual policies above 18% per year for virtually all properties.

• Repeals the property sales trigger – Repeals the provision in Biggert-Waters that required homebuyers to pay the full-risk rate for pre-FIRM properties at the time of purchase. This provision caused property values to steeply decline and made many homes unsellable, hurting the real estate market. Under the Menendez/Grimm Bill, homebuyers will receive the same treatment as the home seller.

• Repeals the new policy sales trigger – Repeals the provision in Biggert-Waters that required pre-FIRM property owners to pay the full-risk rate if they voluntarily purchase a new policy. This provision dis-incentivizes property owners from making responsible decisions and could hurt program participation. The Menendez/Grimm Bill allows pre-FIRM property owners to voluntarily purchase a policy under pre-FIRM conditions.

• Reinstates grandfathering – Repeals the provision in Biggert-Waters that would have terminated grandfathering. If grandfathering was terminated, property owners mapped into higher risk would have to either elevate their structure or have higher rates phased in over 5 years. The Menendez/Grimm Bill allows grandfathering to continue and sets hard caps on how high premiums can increase annually.

• Refunds homeowners who overpaid – Requires FEMA to refund policyholders for overpaid premiums.

• Affordability goal – Requires FEMA to minimize the number of policies with annual premiums that exceed one percent of the total coverage provided by the policy.”

Fun Events by The Bailey-Matthews Shell Museum

Here are a couple of announcements from the Shell Museum’s recent on-line newsletter:

Marine Naturalist Adventure Cruise – The Bailey-Matthews Shell Museum and Captiva Cruises present an ecological expedition that will educate and excite marine enthusiasts. Join a Marine Naturalist from the Museum for an unforgettable day with a small group aboard the 40′ sailing catamaran “Adventure”. Trips from 9 a.m. to 1 p.m. and include cruise, lunch, and admission to the Museum. Call ahead for reservations and sailing dates: 239-472-5300.

Beach Walks at Island Inn – Tuesdays at 10 a.m., join the Marine Naturalist at the Island Inn to learn about the shells, the mollusks that created them, and other marine life.

Parking at Island Inn is free for participants, but space is limited so reservations are required. Island Inn is at 3111 West Gulf Dr.

BIG ARTS Community Chorus Spring Concerts

The BIG ARTS Chorus and their special Ensemble have performed at various locations this winter, from many holiday events to singing the “Star Spangled Banner” at a Minnesota Twins game, to providing musical entertainment at the FISH Annual Volunteer Luncheon & a Center4Life Dinner Meeting, to belting out Irish tunes at Bailey Center’s St. Patty’s Day Fest.

Irish Fest 2014, photo from Blanaid Colley, Zebra Yogurt, Hillgate Communications, & fellow alto

I’ve missed some of the daytime events with work obligations, but will be part of both groups performing next week during their evening Spring Concerts.

Tickets are going fast at BIG ARTS, rumor has it that they are nearly sold out already for both nights. Hope to see you Tues Mar 25 or Thurs Mar 27 at 7 p.m. at Shein Performance Hall on the BIG ARTS campus.

The program includes a wide repertoire including “A Patriotic Salute” (SanibelSusan gets to toot a kazoo in this one), “Ching a Ring Chaw”, “My Bonnie Lass She Smelleth” (PDQ Bach), Randall Thompson’s “Alleluia”, Brahms “Neue Liebeshlieder Waltzes”. Then after intermission, things will liven up with “We Love the 50’s” and a medley from “Guys & Dolls” (fun costumes and other surprises in the second half both nights).

The Chorus now is 85+strong (no auditions necessary). Rehearsals run from each October through March on Tuesday nights at BIG ARTS. The 30-some member Ensemble requires an audition and has an extra rehearsal each week. We are always looking for new members. It has been fun to see this group grow and become so “in demand”. I was one of the original members when it all started in 1992. Singing provides good real estate therapy too. Think of joining us when you are in town!

Sanibel & Captiva Islands Multiple Listing Service Activity March 21-28, 2014

Sanibel
CONDOS

4 new listings: Breakers West #B1 2/2 $449K, Surfside 12 #B1 3/2 $869K, Wedgewood #306 3/3.5 $1.379M, Beachcomber #C302 2/2 $1.695M.

7 price changes: Tennisplace #B24 2/1 now $305K; Captains Walk #B4 2/2 now $325K; Sundial #C301 1/1 now $335K; Kimball Lodge #244 1/1.5 now $339K; Sanibel Moorings #422 2/2 now $449,999; Pointe Santo #E21 2/2 now $$715K; Seascape #104 3/3 now $2.32M.

9 new sales: Beach Road Villas #102 2/2 listed for $349K, Sundial #I402 1/1 listed for $379K, Mariner Pointe #732 2/2 listed for $384.9K, Island Beach Club #240F 2/2 listed for $599K, Sanibel Arms #F8 2/2 listed for $849K, Villa Sanibel #1G 2/2 listed for $875K, Anglers Key #201 3/3 listed for $1.699M, Somerset #A301 3/2.5 listed for $1.899M, Sedgemoor #103 3/3.5 listed for $2.55M.

10 closed sales: Sundial #I307 1/1 $218K, Sundial #H203 2/2 $450K, Heron at The Sanctuary II #2A 3/2.5 $585K, Kings Crown #210 2/2 $625K, Pine Cove #C 2/2 $805K, Plantation Village #A112 3/2 $975K, Gulfside Place #307 2/2 $1.1M, Gulfside Place #319 3/2 $1.145M (our listing), Atrium #206 3/2 $1.24M, Sedgemoor #202 3/3.5 $2M.

HOMES

7 new listings: 2007 Mitzi Ln 3/2 $399K, 3965 Coquina Dr 2/2 $399K, 828 Rabbit Rd 2/1 $463K, 1477 Albatross Rd 4/3 $598.8K, 1063 S Yachtsman Dr 3/2 $675K, 925 Lindgren Blvd 3/2 $698K, 235 Daniel Dr 3/2 $1.195M.

14 price changes: 409 Elizabeth Dr 2/2 now $393K, 1344 Tahiti Dr 2/1 now $450K, 1252 Sand Castle Rd 3/2 now $549K, 9446 Beverly Ln 3/3.5 now $629K (short sale), 1356 Tahiti Dr 3/2 now $674K, 1021 Fish Crow Rd 4/3 now $749K, 1130 Seagrape Ln 4/3 now $799K, 4622 Rue Belle Mer 4/2 now $809K, 501 Sea Walk Ct 3/2 now $835K, 5753 Pine Tree Dr 3/4 now $838K, 1329 Eagle Run Dr 3/2.5 now $874K, 4444 Waters Edge Ln 3/2 now $949K, 2520 Harbour Ln 3/2.5 now $1.149M, 1748 Jewel Box Dr 4/4 now $1.198M,

8 new sales: 3837 Coquina Dr 2/2 listed for $449K, 2050 Sunrise Cir 3/2 listed for $548.9K, 5307 Ladyfinger Lake Rd 3/2.5 listed for $595K, 1300 Par View Dr 3/2 listed for $749K, 5690 Pine Tree Dr 3/2 listed for $799.9K, 1827 Buckthorn Ln 3/2 listed for $849K, 5795 SanCap 3/3 listed for $1.079.9M, 1307 Seaspray Ln 4/3.5 listed for $1.595M.

2 closed sales: 1475 Court Pl 2/1 $265K, 1306 Par View Dr 3/3.5 $750K.

LOTS

1 new listings: 1042 Blue Heron Dr $449K.

2 price changes: 1815 Ardsley Way now $209,555; 3334 Saint Kilda Rd now $315K.

1 new sale: 6081 Henderson Rd listed for $199.9K.

1 closed sale: 1340 Eagle Run Dr $250K.

Captiva
CONDOS

1 New listing: Beach Villas #2511 2/2 $619K.
No price changes.

2 new sales: Tennis Villas #3110 1/1 listed for $225K, Tennis Villas #3139 2/2 listed for $380K.

1 closed sale: Ventura Captiva #2B 3/3 $780K.

HOMES

1 new listing: 13550 Palmflower Ln 4/3.5 $5.65M.

1 price change: 14980 Binder Dr 4/3 now $1.398M.

1 new sale: 1114 Schefflera Ct 4/3.5 listed for $1.849M.

No closed sales.

LOTS

Nothing to report.

If you are on the islands this weekend, we hope you stop in to say “hi”, SanibelSusan Realty is open every day!

What’s Happening on Sanibel & at SanibelSusan Realty Associates

Posted on March 14, 2014 by SanibelSusan

All continues to be well on Sanibel and Captiva with fabulous weather, lots of fun-filled activities, heavy traffic, and good solid real estate action. Next week is spring break for the Lee County Schools so the islands may even be busier. Here are the upcoming permitted special events posted today on mySanibel.com.

Sat – 3/15 is the Sanibel Antiques Show at The Community House, 10 a.m. to 5 p.m., also Sun 3/16, 11 a.m. to 5 p.m.
Sun – 3/16 – Sanibel Farmers’ Market at City Hall Grounds, 8 a.m. to 1 p.m.
Sun – 3/16 – Norm Zeigler’s Fly Shop Shrimp Boil, (Norm is the tenant at the other end of our building in Sanibel Square), noon to 2 p.m.
Mon – 3/17 – IrishFest at Bailey’s Center 2 to 5 p.m. (BIG ARTS Chorus kicks things off at 2 p.m.)
Mon – 3/17 – St Patty’s Day Celebration at Doc Fords Rum Bar & Grille, 5 to 10 p.m.

Below is a cool vehicle that was parked behind our office yesterday!

Island Real Estate Action

Dave held open houses two days this week, Elise has been juggling showing appointments with tenants and Realtors®, and I was out showing property again yesterday. We had a nice smooth condo closing on Wed and another will occur later today.

Probably the best news of the week is in the item that follows about the flood insurance vote yesterday in the Senate. After that are a couple of other real estate items, followed by the activity posted this week in the Sanibel and Captiva Islands Multiple Listing Service.

Senate Passes Flood Insurance With House Amendments

As posted this morning on Realtor.org: Yesterday, “the United States Senate voted 72-22 to approve the Homeowner Flood Insurance Affordability Act (H.R. 3370). The Senate acted quickly to pass the bill as amended by the House to avoid the need for a conference committee to reconcile any differences. The new bill further reins in and holds the Federal Emergency Management Agency (FEMA) accountable for the Biggert-Waters implementation issues.

“As passed, the bill repeals FEMA’s authority to increase premium rates at time of sale or new flood map, and refunds the excessive premium to those who bought a property before FEMA warned them of the rate increase. The bill limits premium increases to 18% annually on newer properties and 25% for some older ones. Additionally, the bill adds a small assessment on policies until everyone is paying full cost for flood insurance. President Obama is expected to sign the bill into law when it arrives at the White House. NAR (National Association of Realtors®) had urged a swift vote in the Senate.”

SanibelSusan’s Scoop on Island Real Estate

Now that the islands are a full two-plus months into “season”, it is interesting to hear today’s prospective buyers say that they are surprised that Sanibel and Captiva real estate has rebounded so quickly. Some think they may have missed out.

2013 was a good year of continued progress toward a more balanced market. The islands did not have the same big spike in property values seen in some parts of the country but solid recovery has been obvious since the end of 2012. Continuing through today, the numbers of sales are up, while inventory has declined considerably.

In considering consumer profiles, cash sales continue to be king, yet another indication that buyers see the investment value in island real estate.

Here is an updated summary of the Sanibel sales statistics compared to last year and the heydays of 2006. Notice how volume is up, prices are on the upswing. DOM (days-on-market) of the sold listings have improved too, mostly showing the new listings priced-right are what are selling.

Sanibel CONDOS HOMES LOTS

# / Avg $ / DOM # / Avg $ / DOM # / Avg $ / DOM

For Sale 153 / $718,734 / 375 200 / $1,341,749 / 292 91 / $676,677 / 785

Closings pending: 40 / $708,712 282 36 / $1,055,178 / 266 6 / $706,667 / 578

Sold & closed in

2014 thru 3/14 18 / $658,881 / 228 43 / $797,709 / 266 4 / $386,139 / 420

2013 161 / $573,557 / 326 197 / $910,321 / 287 26/ $416,503 / 475

2006 143 / $866,972 / 147 156 / $1,143,682 / 186 18 / $523,917 / 158

(Note: “For Sale” & “Closings Pending” prices are asking prices.)

New Garden Trends in 2014

The following article by Barbara Ballinger from the February on-line issue of “Realtor®Mag” has some good points whether you are a year-’round islander or a northern friend dreaming of the upcoming spring gardening seasons. From a real estate standpoint, “a backyard oasis for low-maintenance entertaining and calming tranquility is sure to catch buyers’ eyes.”

“While winter still casts its chill, blankets snow, and layers ice in many parts of the country, landscape experts are busy studying garden catalogs, nursery websites, and interior design trends that can work outdoors. Improving a home’s landscaping offers a win-win-win: greater enjoyment, increased home values, and enhanced curb appeal that may help attract buyers.

“To gain the biggest bang for their dollars, home owners should understand their site’s topography, orientation, climate, and economy, as well as their own budget. What’s popular in one city experiencing growth may not appeal where the economy is stagnant, says landscape architect Stephen Wlodarczyk of Botanical Decorators in Olney, Md.

“Here are popular trends reported from around the country and tips you can pass on to your clients:

“Low maintenance. Busy home owners want to enjoy yards that don’t require a lot of time and effort to maintain. This trend is translating into more low-maintenance, carefree choices for outdoor spaces, such materials for decks, patios, and columns that don’t require repainting or replacing, furnishings that can be left outdoors throughout the year and won’t fade, and plant materials that don’t have to be constantly watered, fertilized, or pruned. This, in turn, is leading to greater use of perennials instead of annuals in gardens, since annuals require yearly replacement. To compensate for the color advantage of annuals, landscape specialists suggest that color come from accessories such as pillows, placemats, and dishes.

Wildflowers, too, are less labor-intensive than cottage and cutting garden choices, and also less pricey.

Simpler in design and care, yet still pleasing, are gardens that incorporate five to seven varieties of flowers rather than dozens, says Daniel Richards, general manager of design at Hicks Nurseries in Westbury, N.Y. “You can go with one big bank of roses in one color rather than 20 different kinds in multiple colors,” he says. Container gardens also pare down maintenance, and pots can winter indoors. But the downside is that they need to be watered more frequently since water in smaller containers will evaporate faster than it will in the ground. Although water features remain popular, these, too, are beginning to reflect the desire for less intense care. More home owners install pools with salt water to decrease the need for chlorination, and some go with natural pools where rocks and plantings cleanse water. Still others opt for small fountains for the soothing sight and sound of trickling water. And if they want a more lavish water wall or cascade, they ask for water to be recirculated for conservation, says Chris Cipriano, owner of Cipriano Landscape Design in Mahway, N.J. The size of pipes can also reduce evaporation, with oversized designs slowing the velocity and loss, he adds. When it comes to grass, “Grassology’s” grass-like product requires less water and feeding since its roots go deeper than ordinary grass to find water and nutrients instead of depending on traditional methods. The “grass” also doesn’t grow as high, so less mowing is needed.

“Entertaining outdoors. Today’s home owners want an outdoor entertainment space, so more are adding patios, decks, or terraces large enough to accommodate comfortable seating; often the finished result resembles an indoor room. The furnishings selected for outdoor entertainment areas are also sturdier — sometimes indistinguishable in quality and look from what home owners use indoors — and upholstery is more fade-resistant. Bells and whistles make outdoor living even more pleasurable, whether it’s surround sound, weatherproof TVs, or well-equipped kitchens. While some home owners still find a good grill sufficient, especially if their indoor kitchen is close by, others are ramping up their cooking zones with appliances specifically designed for outdoor use — sinks, refrigerators, beer taps, pizza ovens, and rotisseries. Storage and countertops are also more frost-proof. To shade those who lounge or dine, pergolas continue to flourish, matched stylistically to a home’s design or favorite vacation paradise — perhaps Tuscany or the South Seas. To shade better, many are planted with flowering vines.

For those who aren’t as focused on saving dollars, water features are ever more lavish and resort-like. Vanishing-edge pools, where water seems to spill over indefinitely, are increasing popular, says Cipriano. “Home owners want to feel they’re going to their own five-star hotel,” he says.

“Sustainably savvy. Native vegetation choices have caught on in landscaping because they don’t require frequent watering or as much feeding, fertilizing, and pruning, and these plants know how to survive in their region. They also offer the plus of attracting more native wild life, bees, butterflies, and bugs. Green gardening also means less lawn for many, and more hardscape that’s permeable such as gravel or brick, so water can seep through and be reused. But be sure home owners understand that all hardscape isn’t the goal either, since some greenness is key to a home looking residential and inviting, says Sacramento, Calif., landscape designer Michael Glassman, whose state has experienced a terrible drought. If home owners insist on lawn and plants, they should consider going with a choices that can be left more natural to resemble a meadow or prairie, or they might consider synthetic turf, which now looks much more realistic. Many home owners are also planting vegetable and herb beds to grow more of their own food, which inspired Elizabeth Robinson Edwards and her husband Williams recently to launch their Edwards Yards business to help home owners learn how to amend poor soil and grow food sustainably.

Drip irrigation systems help conserve water better than sprays, which often throw into the air haphazardly, says Jim Drzewiecki of Ginkgo Leaf Studio in Cedarburg, Wisc. For home owners eager to lower water use, they should consider installing rain barrels and other collection methods. More home owners also want to incorporate local, recycled, and renewable materials, such as stone quarried nearby and reclaimed lumber, says landscape designer Laurie Van Zandt, whose firm, The Ardent Gardener is based in Huntsville, Utah.

“Extended use. Better lighting and warmth are key for extending backyard enjoyment into the night and for a greater part of the year (even in colder climates). For illumination, LEDs are replacing halogen bulbs because of their greater energy efficiency, particularly as their prices come down. These lights are being used not just for eating and sitting, but also to accent specimen trees, garden furnishings, and artwork. Richards says make sure the lighting effect is visible while concealing the source of the light. Adding a fire pit or fireplace also encourages home owners to use their outdoors as the weather becomes nippier. Fire pits are a more affordable option, but if home owners are planning to stay in their home for a long time, a permanent outdoor fireplace can bring many years of beauty and enjoyment. Before home owners install either, they should know their community’s regulations regarding having a fire outdoors and how far the structure must be from the house. A fire bowl offers a less intense flame, but still provides the effect, and several can be placed around the perimeter of a terrace or by a pool, says Glassman. For those homeowners who prefer going barefoot, he also suggests radiant heat installed under wood boards, in the same manner as indoors kitchens and bathrooms.

“All the senses. Attracting bees, birds, and other animals can add pleasant outdoor sounds. And an array of smells from plants, flowers, and herbs also can enhance home owners’ pleasure, says Van Zandt, but try not to have too many that may overpower one another. Bolder colors outdoors rank high on wish lists, as they do inside, from periwinkle blue to zesty orange, but know that classic white and blue rarely loses its cachet. The Perennial Plant Association named Panicum virgatum, “Northwind,” the 2014 plant of the year with its vertical ornamental grass with blue green foliage forming a clump 4 to 5′ high and 2 to 3′ wide, Wlodarczyk says.

“More personalized curb appeal. A front yard can become more appealing through a host of features beyond a lawn and decorative walk, says Van Zandt. Suggest to home owners they use textured plantings, different height materials, some variation in color throughout the year, a piece of garden art or interesting furniture such as an antique bench, maybe a small water feature, and even a painted wall that coordinates with their home’s façade and architectural elements.

“And whatever choices home owners consider, advise them to keep costs to no more than 5 to 10% of their home’s value, so they don’t over improve.

59 Metros Back to Normal

Here’s some positive info from Sunday’s “Daily Real Estate News”:

“Out of 350 metros evaluated across the country, 59 housing markets have returned to or have exceeded their last normal level of economic and housing activity, according to the latest National Association of Home Builders/First American Leading Markets Index.

“Overall, markets nationwide are running at about 87% of their normal economic and housing activity. The index evaluates metro areas to see if they’re approaching or exceeding their previous normal levels of economic and housing activity. The index factors in average single-family permits, home prices, and employment levels for the past 12 months and then compares that to the market’s historical levels.

Topping the list of major metros on the Leading Markets Index is Baton Rouge, LA, which is performing 41% better than its last normal market level. Other top performing markets are Honolulu, Oklahoma City, Austin and Houston, TX, and Harrisburg and Pittsburgh, PA. All of those markets are experiencing economic and housing activity that exceeds their previous norms.

“Looking at the smaller metros, Odessa, TX, and Midland, TX, have seen economic and housing activity double when compared to activity prior to the recession. Other smaller metros that are also performing strong: Casper, WY; Bismarck, ND; and Grand Forks, ND.

“”The strong energy sector is at the forefront of the recovery and centered in many small and mid-sized markets in Texas, Louisiana, North Dakota and Wyoming,” says NAHB Chief Economist David Crowe. “In fact, these four states account for eight of the top 10 markets on the LMI and 45% of the markets that are at or above normal.””

Sanibel & Captiva Islands Multiple Listing Service Activity March 7-14, 2014

Sanibel
CONDOS
5 new listings: Beach Road Villas #102 2/2 $349K, Sundial #F207 1/1 $349K, Sanibel Arms West #J3 2/2 $525K, Lighthouse Point #130 2/2 $530K, Sanibel Surfside #211 2/2 $839K.
4 price changes: Donax Village #9 1/1 now $249.9K, Sundial #D207 1/1 now $264.9K, Loggerhead Cay #453 2/2 now $519K, Seascape #104 3/3 now $2.345M.
7 new sales: Sundial #H107 1/1 listed for $299K, Sundial #G305 1/1 listed for $339K, Mariner Pointe #1091 2/2 listed for $399K, Sundial #G401 2/2 listed for $459K, Sandpiper Beach #505 2/2 listed for $599K (short sale), Lighthouse Point #324 3/2 listed for $679.9K, Janthina #1A 3/2 listed for $1.1M.
3 closed sales: Sundial #C308 1/1 $285K, Seawind #A109 2/2.5 $375K, Mariner Pointe #812 2/2 $440K (our listing).

HOMES
5 new listings: 1048 Fish Crow Rd 3/2 $795K, 2552 Harbour Ln 3/2 $895K, 6010 White Heron Ln 3/2.5 $959K, 927 Kings Crown Dr 3/3.5 $1.595M, 5075 Joewood Dr 3/4.5 $3.89M.
9 price changes: 1526 Bunting Ln 2/2 now $399.9K, 1481 Sand Castle Rd 2/2 now $529K, 1121 Skiff Pl 3/2 now $545K, 421 Lake Murex Cir 3/2 now $549K, 1526 Bunting Ln 5/3 now $553K, 5690 Pine Tree Dr 3/2 now $799.9K, 261 Ferry Landing Dr 2/2 now $998.5K, 1500 Angel Dr 3/2 now $1.195M, 1206 Bay Dr 4/4.5 now $3.395M.
1 new sale: 660 Anchor Dr 4/4 listed for $1.2M (short sale).
2 closed sales: 5284 Ladyfinger Lake Rd 3/2 $470K, 2529 Harbour Ln 3/3 $675K.

LOTS
No new listings.
1 price change: 2324 Starfish Ln now $499K.
1 new sale: 761 Donax St listed for $219K.
2 closed sales: 3037 Poinciana Cir $195K, 4318 West Gulf Dr $635K.

Captiva

CONDOS
3 new listings: Sunset Beach Villas #2217 1/1 $510K, Beach Villas #2628 2/2 $629K, Beach Homes #1 3/2 $2.195M.
No price changes, new or closed sales.

HOMES
3 new listings: 11490 Old Lodge Ln 3/3.5 $1.349M, 1 Sunset Captiva Ln 2/2.5 2.495M, 15361 Captiva Dr 5/4 $2.595M.
1 price change: 11411 Old Lodge Ln 4/2 now $959K.
No new or closed sales.

LOTS
Nothing to report.

Best weekend wishes & here’s to good luck to everyone on Monday during the wearin’ of the green!

SanibelSusan

It’s Spring-Ahead Weekend on Sanibel Island

Posted on March 7, 2014 by SanibelSusan

It’s another perfect Friday on Sanibel Island. We are all ready to turn the clocks ahead on Sunday so we can enjoy more of this wonderful weather, later in the evenings.

Here are a few quick news items, followed by the week’s real estate action as reported in the Sanibel & Captiva Islands Multiple Listing Service.

Florida Realtors® Applaud House Passage of Flood Insurance Bill

Florida Realtors® posted the following notice on-line on Wednesday:

“Realtors across Florida support the Homeowner Flood Insurance Affordability Act, H.R. 3370, overwhelmingly passed by the U.S. House Tuesday, 306-91.

““This action in Congress will bring the much-needed certainty our real estate market has been missing since Biggert-Waters went into effect, and provide immediate relief to Florida homeowners who were facing financial ruin due to sudden and drastic flood insurance premium increases,” said 2014 Florida Realtors® President Sherri Meadows, CEO and team leader, Keller Williams, with market centers in Gainesville, Ocala and the Villages. Meadows added, “While good-intentioned, the Biggert-Waters Act had the effect of stigmatizing properties that are in flood zones. Current property owners, as well as those looking to buy, didn’t know if a new flood map might be adopted next week or next year. This legislation will give property owners in Florida and across the country peace of mind, by ensuring a slow and steady phase-in of risked-based increases.”

“Cyndee Haydon, associate broker with Future Home Realty in Clearwater, noted that the unintended consequences of the Biggert-Waters Act was making Florida locations less attractive to families, retirees and others looking to move here because of the dramatic, soaring cost of flood insurance in many areas. “I’m excited that the legislation addresses the affordability of flood insurance and provides a ‘glide path’ for premium increases of about 15% a year (for those not paying the full rates yet),” Haydon said. “This takes out the fear and the unknown factor.”

“Brandi Gabbard, chair of the Pinellas Suncoast Association of Realtors and broker-associate with Smith & Associates in St. Petersburg, said that the House bill allows for homeowners of properties that currently have subsidized policies with the National Flood Insurance Program (NFIP) to be “grandfathered in” again. “That’s a huge win for homeowners,” Gabbard said. “We also hope to see more interest from private insurers to offer flood insurance policies. The Pinellas County area has seen good success with Lloyds of London and Homeowners’ Choice Property and Casualty Insurance Company. There are several bills legislators are introducing in Tallahassee to support the private market for flood insurance. Encouraging competition among private insurers will be the long-term, sustainable answer for this issue.”

“Under the U.S. House bill:

Immediate increases in flood insurance premiums up to 10 times the previous cost are eliminated.

Those who already paid such increases receive refunds.

Primary homeowners not already paying full rates could see their annual rate increases average 15% and be capped at 18%.

Second homes and businesses not already paying full rates could receive premium increases of about 25% per year.

Renewal increases are capped at 18% for homes in newly mapped flood zones.

The Federal Emergency Management Agency (FEMA) has a goal of having annual premiums not exceed 1% of total coverage provided by the policy.”

77th Annual Sanibel Shell Festival is NOW

Photo by Pam Rambo at www.ILoveShelling.com

Photo by Pam Rambo at http://www.ILoveShelling.com

Featuring shells, shell art, crafts and books, juried artistic and scientific exhibits, this annual event at The Sanibel Community House began on Thursday and runs through tomorrow (Saturday).

It unexpectedly got closed down early yesterday when Southwest Florida experienced a brief period of wind and heavy rain, but it is back in business again today.

New Sanibel Cell Tower is Up & Running

The City’s new cell phone tower located on utility department lands just off Donax Street now is operational. Verizon built the tower on land leased from the City to boost cell service on the east-end. The tower doubles as a flag pole, with positive comments already received from those driving onto the island and viewing the huge new American flag waving. There are spaces on the tower for other carriers and rumor has it that AT&T is in negotiation for the 2nd tower slot.

News from The Sanctuary Golf Club

Sheryl Tatum, Director of Membership at The Sanctuary emailed her March newsletter this week. It announced that they have reached their maximum 100 Social Memberships. A Waiting List now has been implemented. Effective March 1, the Social Membership Fee is $15,000. The other membership categories include: Equity Membership $110,000; Introductory Membership $10,000; and Temporary Membership $5,000 for 1 month or $7,500 for 2 months.

Troubled by Tightened Lending Restrictions?

That is certainly what I have heard more than once lately from well-qualified buyers, even those only looking to borrow a small percentage of the funds needed to purchase their new property. The following article by Michael Kodsi in the March issue of “FloridaRealtor®” magazine may explain why.

“Don’t be. Here are the facts about the new residential Qualified Mortgage rule and what you can expect.

“For the past few years, securing financing for your customers has been a challenge. Tighter loan restrictions and fewer lending programs have stymied many a real estate purchaser. So it’s understandable that real estate professionals are a little concerned about the new Qualified Mortgage rule that went into effect in January. How will homebuyers be impacted? Will this slow housing sales? Here are the facts to help you understand what a Qualified Mortgage is so you can prepare your customers for the changes. You’ll also know what to expect from lenders.

“Simply put, the new Qualified Mortgage rule – also know as the ability-to-repay rule – is designed to make sure that borrowers can repay their mortgage loans.

“As defined by the Consumer Financial Protection Bureau (CFPB), a Qualified Mortgage is a loan with a term no longer than 30 years, with the points and fees paid by the borrower not exceeding 3% of the total loan amount. Lenders must also document the borrower’s ability to repay the loan and must confirm a debt-to-income ration of no more than 43%. Lenders may still make any loan they like. However, lenders who go outside the Qualified Mortgage rule lose protection against borrower lawsuits that claim the loan was unfair.

“Will Homebuyers Be Impacted? The CFPB predicts that most homebuyers won’t be affected by the new rule because many lenders have already tightened their lending criteria. However, you should be prepared for a few changes relating to the mortgage process and be ready to advise your customers that lenders may increase the paperwork required for a home mortgage. Because lenders need to justify their underwriting decisions, many are requiring more documentation from borrowers.

“Some lenders may tighten their underwriting standards so that certain categories, including some lower- and moderate-income first-time homebuyers, may find it more difficult to obtain mortgage financing. Self-employed homebuyers who don’t have a long history of consistent income may have a tougher time getting a mortgage. It’s certainly not impossible, but more paperwork will likely be required.
“Be aware that customers looking to buy more expensive homes will probably be affected because jumbo loans – those over $417,000 – may be more difficult to qualify for.

“The bottom line? Education and preparation will go a long way when working with homebuyers. By starting the mortgage process a little earlier – perhaps even before customers begin searching for a home – you can ease any anxiety they may feel over the new mortgage rules.”

7 Bathroom Remodeling Trends

“Home Trends” remodeling adviser Mellisa Tracey posted the following article recently in “REALTOR®” magazine:

“What’s trending in bathroom remodels? Houzz recently released its 2014 Winter Bathroom Trends Study showing the top bathroom remodel preferences of more than 7,500 homeowners in the U.S. and Canada. The report shows that 60% of homeowners are targeting the master bathroom for their bathroom remodels. The two main drivers for their remodels: To upgrade features and fixtures as well as to make space more functional.

“Here are some of the growing trends that emerged from the Houzz report:

“#1 Goodbye, bathtubs. The bathtub is starting to move out of the master bathroom. More than four in ten – 43% – are forgoing a bathtub in the master bathroom, according to the report.

“#2 Frameless glass is “in”. The majority of the homeowners surveyed say they prefer glass shower enclosures and frameless glass. Glass block is “out,” according to the report.

“#3 Let there be lots of light. Adding light was one of the top goals for homeowners with their bathroom remodels, from adding windows to skylights to LED lights in the showerhead.

“#4 Showing showerhead preferences. Rain and multiple showerheads are the clear choice for homeowners under 45, while the 55-plus age group tends to prefer hand showers and sliding bars.

“#5 Seeing white. White cabinets are the top choice in master bathrooms (with medium and dark wood coming in No. 2 and No. 3, respectively). Maple is the most common type of wood used, followed by cherry and oak.

“#6 Silver bling. Silver-tone faucets remain the most popular, with brushed nickel topping the list. Polished chrome is also popular, while brushed bronze came in as the least popular choice for current bathroom remodels.

“#7 Unique powder rooms. The powder room is getting more unique features than other bathrooms. Hardwood floors, wallpaper, pedestal sinks, and furniture-like cabinets are more commonly used in these spaces than in other bathrooms.”

Sanibel & Captiva Islands Multiple Listing Service Activity Feb 28 – Mar 7, 2014

Sanibel
CONDOS
4 new listings: Sundial #I207 1/1 $324.9K, Island Beach Club #F240 2/2 $599K, Sandpiper Beach #505 2/2 $599K, Villa Sanibel#1G 2/2 $875K.
6 price changes: Sunset South #1B 2/2 now $534K, Loggerhead Cay #583 2/2 now $569K, Sanibel Surfside #133 2/2 now $885K, Pointe Santo #A2 now $898.5K, Pine Cove of Sanibel #302 2/2 now $1.15M, Seascape of Sanibel #104 3/3 now $2.37M.
5 new sales: Sundial #G206 1/1 listed for $299K, Sandpiper Beach #103 2/2 listed for $589K, Kings Crown #313 2/2 listed for $590K, Sundial #O205 2/2 listed for $768K, Sanibel Seaview #B2 3/3 listed for $1.395M.
5 closed sales: Bind Pass #E102 2/2 $365K, Heron at the Sanctuary #2B 3/3 $610K, Island Beach Club #D220 2/2 $762K, Kings Crown #218 3/2 $1.070M, By the Sea #102 2/2 $1.285M.
HOMES
9 new listings: 3837 Coquina Dr 2/2 $449K, 9455 Calla Ct 3/3 $669K, 4648 Buck Key Rd 3/2 $699K, 732 Durion Ct 3/2 $749K, 1021 Fish Crow Rd 4/3 $775K, 4500 Waters Edge Ln 2/2 $839K, 857 Birdie View Pt 3/2.5 $1.049M, 904 Almas Ct 3/2.5 $1.129M, 749 Pyrula Ave 3/3 $ 1.295M.
8 price changes: 2186 Egret Cir 3/2 now $449K, 581 East Rocks Dr 3/2 now $495K, 9446 Beverly Ln 3/3.5 now $649K, 419 Lighthouse Way 4/3 now $877K, 228 Violet Dr 3/2.5 now $880K, 512 Periwinkle Way 3/3 now $925K, 5115 Joewood Dr 4/3 now $1M, 2981 Wulfert Rd 4/4.5 now $ 1.675M.
7 new sales: 1890 Farm Tr 3/2 listed for $449K, 1565 Bunting Ln 3/2 listed for $479K, 450 Leather Fern Pl 3/2 listed for $599K, 601 Sea Oats Dr 3/2 listed for $599K, 923 Pepper Tree Pl 3/2 listed for $729K, 2498 Harbour Ln 4/3 listed for $825K, 1838 Buckthorn Ln 3/2 listed for $1.1M.
6 closed sales: 1809 Bowmans Beach Rd 3/2 435K, 579 Rabbit Rd 3/3 550K, 3205 Twin Lakes Ln 3/2 $570K, 9474 Balsa Ct 3/3 $860K, 1444 Causey Ct 4/4 $1M, 1664 Hibiscus Dr 3/2 $1.075M.
LOTS
1 new listing: 1770 Dixie Beach Blvd $729K.
2 price changes: 4626 Buck Key Rd now $188K, 5749 Sanibel Captiva Rd now $399,555.
No new or closed sales.

Captiva
CONDOS
No new listings.

1 new sale: Marina Villas #708 2/2 listed for $595K.

No closed sales.
HOMES
1 new listing: 15879 Captiva Dr 3/3 $2.995M.
No price changes.
1 new sale: 15127 Captiva Dr 8/8 listed for $1.595M.

LOTS
Nothing to report.

Looking for a Sanibel Condo? Here are a few photos of the views & amenities from some of SanibelSusan’s current listings…

Best wishes from Susan & The SanibelSusan Team for another great weekend!

Valentines Day 2014 & Real Estate Action on Sanibel Island

Posted on February 14, 2014 by SanibelSusan

It’s been another busy busy week on Sanibel Island. Many of our listings had showings and good sales activity is reported. Our 2-bedroom listing at Pointe Santo was one of the six condos that went under contract this week. Island-wide, seven homes and three lots have gone under contract since last Friday too. We also got another nice listing at Mariner Pointe. It’s #332, which is a thoughtfully remodeled 2nd floor 2 bedroom (the wide floor plan) with terrific view of the Shell Harbor canals and the marina, plus a peek of the bay. A few photos are below.

I was out showing property today and will be holding an open house tomorrow during the busy Rotary Arts & Crafts Fair. Dave and I both have been busy opening properties and accompanying showings, while Elise has been juggling all of the showing appointments, providing the property fliers, and getting the feedback. Lisa will be working with me tomorrow.

This afternoon, Dave and I did a walk-thru for a closing. Here are a couple of photos also taken from Mariner Pointe. One is of the inlet to the Shell Harbor canal system from San Carlos Bay. It shows the good progress made from the recent dredging project.

The other is of the Sanibel Marina. There sure are some nice boats docked there today!

Rumor has it that with the new Saturday check-ins arriving tomorrow, there most likely will be no accommodations vacancies on the island – nary a broom closet left. That nasty weather up north sure is helping us again this week!

Below are a couple of new items, followed by the action report in the Sanibel & Captiva Multiple Listing Service this week. The busy-ness should continue until Easter! Wooohooo!

Thursday Sanibel & Captiva Islands REALTOR® Caravan Meeting

Island insurance company owner, Chris Heidrick, is an affiliate member of The Sanibel & Captiva Islands Association of REALTORS® and a member of Sanibel’s Planning Commission. He also just returned from Washington where he and a group from Sanibel went to meet wiith representatives on the Hill about the Biggert Waters Flood Insurance Reform Act. He said that he and Sanibel Mayor Ruane got out of the City just in the “nick of time”, before Thursday’s snowstorm. In updating our membership about that trip, his report echoes the following email that our Association Executive received that morning from John Seebree, Florida REALTORS® Senior VP of Public Policy:

“The U.S. House now is expected to vote during the week of February 24 on some relief from the Biggert-Waters Lood Insurance Reform Act. We do know that the House will not approve the 4-year delay that was approved by the U.S. Senate, but we do expect them to pass some immediate relief and we expect it to be retroactive. The bill they are working from is HR 3370 which has many Florida cosponsors, however, this bill will change dramatically over the next week or so. Below is a press release dated February from U.S. House Majority Leader Eric Cantor who has taken control of this issue. This is positive movement….”

Leader Cantor’s announcement said that “The House will consider a modified version of the Homeowners Flood Insurance Affordability Act the week of February 24…The Senate bill irresponsibly removed much need reforms and imposes additional costs of taxpayers. The House will act to protect the flood insurance program but also protect homeowners from unreasonable and unrealistic premium increases.”

Chris Heidrick said that House leaders want to do away with the Senate’s language that would delay rate hikes under the National Flood Insurance Program for up to four years.

Rumor has it that instead, the House version could stipulate that the program cannot increase insurance premiums by more than 15% each year on any property, even if a property has been sold or its flood insurance policy lapses. House leaders also want to make those changes apply retroactively so that property owners who have seen a sudden spike to full-risk rates will get a refund. Under the legislation that Congress enacted in 2012 to overhaul the program, FEMA is ordered to increase premiums by up to 20% each year on all properties that have been subsidized.

City to Review “Dark Sky” Ordinance

As reported in island newspapers today, “The Sanibel City Manager’s office was recently directed to compile information about the Dark Sky Ordnance so council could address concerns raised by residents that it wasn’t reasonable.

“By January 1, 2015 properties are expected to comply with the ordinance, which passed in 2000 to protect the island’s natural beauty and habitat for nocturnal and crepuscular species – such as sea turtles in nesting season – by minimizing the amount of light pollution.”

“Jeff Molnar, owner and operator of Molnar Electric on the island, said the Dark Sky Ordinance had undergone 17 revisions over the course of a year-and-a-half before it was passed, and that included regular consultation with the International Dark Skies Association.

“He said there aren’t a lot of reasonably priced, compliant light fixtures on the market today. When the ordinance was passed in 2000 the presiding council believed that 15 years was enough time for the upgrades to be made and for new technology to be developed, but it didn’t work out that way….”

Several island residents and representatives from condominium associations also addressed City Council earlier this month to discuss the costs associated with updating light fixtures and local safety concerns at night. One mentioned that according to their research, Sanibel Island is one of only four cities in the United States with a dark skies ordinance and the other cities on the list aren’t in Florida.

“Mayor Ruane said City staff would study all of the information on the Dark Sky Ordinance so council could decide on how to deal with the issue.”

SCCF Annual Open House is Monday

The Sanibel-Captiva Conservation Foundation’s 36th annual open house is Monday – President’s Day – and a school holiday.

From 11 a.m. to 1 p.m. the Nature Center and trails are open FREE.

From 11 a.m. on, there are a variety of exhibits and events planned, including the 27th annual Nature Sounds Contest. All educational and good fun. More info at www.sccf.org

Sanibel & Captiva Islands Multiple Listing Service Activity February 7-14

Sanibel

CONDOS

4 new listings: Captains Walk #C1 2/1 $319K, Mariner Pointe #332 2/2 $520K (our listing), Pointe Santo #E32 2/2 $739K, Kings Crown #104 2/2 $895K.

3 price changes: Sundial #H107 1/1 now $322K, Sundial #J307 2/2 now $539K, Sundial #Q202 2/2 now $739K.

6 new sales: Sundial #H203 2/2 listed for $475K, Sundial #J108 2/2 listed for $490K, Loggerhead Cay #362 2/2 listed for $512K, Pointe Santo #B23 2/2 listed for $649.9K (our listing), White Pelican #123 2/2 listed for $799K, Kings Crown #303 2/2 listed for $978K.

1 closed sale: Oceans Reach #4C1 2/2 $779K.

HOMES

9 new listings: 1565 Bunting Ln 3/2 $479K; 4546 Waters Edge Ln 2/3 $499K; 1526 Bunting Ln 5/3 $578K; 601 Sea Oats Dr 3/2 $599K; 938 Strangler Fig Ln 2/2 $629K; 917 Pepper Tree Pl 4/3 $849,407; 4444 Waters Edge Ln 3/2 $975; 820 Angel Wing Dr 3/2 $999K (our listing); 830 Limpet Dr 4/4.5 $1.895M.

9 price changes: 966 Fitzhugh St 2/1 now $333K, 1709 Sand Pebble Way 4/3 duplex now $429.9K, 736 Cardium St 3/2 now $451K, 1481 Sand Castle Rd 2/2 now $539K, 4563 Brainard Bayou Rd 3/3 now $629K, 1504 Angel Dr 4/3 now $795K, 2498 Harbour Ln 4/3 now $825K, 659 Anchor Dr 3/2 now $929K, 6433 Pine Ave 4/3 now $1.2M.

7 new sales: 1327 Tahiti Dr 2/2 listed for $424.9K, 1826 Ardsley Way 4/3 listed for $484.7K, 5284 Ladyfinger Lake Rd 3/2 listed for $525K, 460 East Lake Rd 2/2 listed for $589K, 4472 Waters Edge Ln 3/3 listed for $849K, 836 Birdie View Pt 3/3 listed for $1.189M, 542 Kinzie Island Ct 3/3.5 listed for $2.1M.

4 closed sales: 5750 Pine Tree Dr 2/2 $660K, 1013 Lindgren Blvd 4/3 $762K, 720 Periwinkle Way 3/3.5 $1.275M, 829 Tulip Ln 5/4.5 $2.25M.

LOTS

No new listings.

1 price change: 3792 Coquina Dr now $349K.

3 new sales: 3037 Poinciana Cir listed for $199,555; 1340 Eagle Run Dr listed for $279K; 1898 Woodring Rd listed for $2.495M.

No closed sales.

Captiva

CONDOS

Nothing to report.

HOMES

No new listings.

1 price change: 11514 Wightman Ln 5/5 now $1,985,589.

1 new sale: 11522 Andy Rosse Ln 5/4.5 listed for $2.45M.

1 closed sale: 17041 Captiva Dr 2/2 $1.49M.

LOTS

Nothing to report.

This representation is based in whole or in part on data supplied by the Sanibel & Captiva Islands Association of Realtors or its Multiple Listing Service. Neither the association nor its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or its MLS may not reflect all real estate activity in the market. The information provided represents the general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions. If your property currently is listed with another broker, this is not intended as a solicitation of that listing.

Happy Valentines Day!

from Susan

& The SanibelSusan Team (Dave, Elise, & Lisa)

Another Sunny Friday & Real Estate is Moving on Sanibel Island

Posted on February 7, 2014 by SanibelSusan

It’s been another week of wonderful weather on Sanibel and the islands continue to be busy. Shops and restaurants are hoppin’ and many of us have resorted to the “always turn right” traffic pattern to ensure getting around. Funny how we always forget what really happens February 1st when it seems the flood gates open and visitors arrive in full force. The extreme weather elsewhere has obviously contributed to additional island business this year. It’s all good!

We got another nice listing this week, a wonderful canal-front home near the beach. At Sellers’ request, it will not be posted in the Multiple Listing Service until Monday, but if you know of anyone looking for an east-end easy-living property with pool and 2 boat lifts, please have them give me a call. Teammate Dave has already taken some terrific photos. Here are a few:

We had some very good showings this week too. So far, we have two offers to show for them and I am working on those negotiations. A few more showings are scheduled for the weekend too. Some of those are getting more complicated in the investment-type condos that have tenants, particularly the ones with long-term renters. So far, we were pretty lucky with that though, and this week we managed to convince two month-long tenants that we had “real” prospective buyers. One resulted in one of the offers. An offer is possible on the second one too!

Here are some news items followed by the Sanibel and Captiva Islands Multiple Listing Service activity for the past seven days.

Nearly Every U.S. City Can Expect a Good 2014

If you missed the article in “USA Today” last week, it was repeated in our REALTORS ® “Daily Real Estate News” on January 23.

“Nearly every city in the U.S. is expected to see economic growth in 2014, according to a new report by the U.S. Conference of Mayors. The city expected to lead the country in economic growth and job gains is Naples, FL.

“Other large cities expected to see big growth this year: Raleigh, NC; Atlanta; and Austin, TX, according to the report, which was conducted by IHS Global Insight.

“Cities that were hit hard by the decline in manufacturing or the housing crisis are also forecasted to see a big turnaround. For example, Youngstown, OH, and Buffalo, NY, are expected to see economic growth of 1.6% and 1.5%, respectively.

“”The key thing in the northeast was the stabilization of housing,” says Jim Diffley, a senior director at IHS and lead author of the report. “When prices normalized and people weren’t underwater anymore, small but positive job growth has been able to stimulate spending.”

“One of the biggest turnaround towns is expected to be Shreveport, LA, which, the report shows, will grow by 1.6% after a 5.2% decrease last year.

College towns, such as Austin, Charlottesville, VA, and Lawrence, KS, are expected to be strong performers this year. However, large urban areas, such as New York, Chicago, and Los Angeles, are expected to grow more slowly than the national average. Diffley says that many large cities such as those have already recovered many of the local jobs that had been lost in the recession, and that’s why they likely will only experience slow growth this year.

“Overall, IHS predicts that 340 of 363 metro areas will see their economies grow by at least 1% this year. That’s an increase from 183 metros last year. What’s more, 69 of those metros are expected to see growth of 3% or more. Only seven of the 363 metro areas will likely not see their economies grow this year, still an improvement over last year’s 97 metros that saw their economies stagnate.

“”Two thirds of metros have still not gotten back to 2007 or 2008 peak levels of employment, and half of those won’t get there for another three years,” Diffley says. “Financial crises do not produce normal recessions in the U.S.””

Shell Harbor Entrance Channel Dredging Begins

This is an old photo take some years ago when the canal entrance was similarly sanded in.

The City of Sanibel announced yesterday that the dredging of the entrance channel to Shell Harbor begins today. The channel will remain open during the dredging; however, there may be short periods when boat traffic will need to be stopped. Boaters are advised to be alert and aware of the construction operations taking place. The work will take a few weeks to complete.

Official Opening of The Bailey Homestead Preserve’s Shipley Trail

The February issue of the Sanibel-Captiva Conservation Foundation (SCCF) Member Update announced that on Thurs morning, March 6, at 11 a.m. SCCF will officially open the Bailey Homestead Preserve’s Shipley Trail, Conservation Gateway Kiosk and the boardwalk that SCCF and the City of Sanibel created to connect the Bailey Homestead Preserve to the City’s Pond Apple Park.

The opening of the rest of the homestead will be announced at a future date. Watch www.sccf.org for more details.

(Photos here taken by Andy Johnson, owner of Sanibel Surveys, who performed their post construction survey work. Thanks for sharing your pictures, Andy!)

Prices May Not Return to Peak Levels Until 2021

An articled posted on-line at www.FloridaREALTORS.org advises that “Clear Capital says there’s no housing bubble.” Sourced to a HousingWiring article posted on Monday, it says:

“Though home prices are projected to grow at a 3% to 5% appreciation rate, economists at Clear Capital say there should be no worries about a housing bubble brewing any time soon. In fact, according to Clear Capital’s Home Data Index, if home appreciation continues at its current pace, prices may not return to peak levels until 2021.

“The National Association of Realtors reported in its December existing-home sales report that home prices rose 11.5% in 2013 compared to 2012. That marked the strongest gain since 2005, when median prices for existing homes rose 12.4%.

“Following the double-digit growth in home prices last year, however, Clear Capital economists predict that national home prices will now fall into line with inflation and follow more historical rates of growth. “Double-digit gains over the last year, while similar to rates of growth in the run-up to the bubble, are off a much lower price floor,” says Alex Villacorta, vice president of research and analytics at Clear Capital.

“However, Villacorta did note that Phoenix and Las Vegas are showing signs of overheating and should be watched closely. Both markets saw yearly gains around 30%, but home prices have since been cooling. Home prices in Las Vegas remain 20.8% below 2000 levels when adjusted for inflation, but prices in Phoenix are about 1.9% above 2000 levels, according to Clear Capital.

“Home prices at the metro level, when adjusted for inflation, reveal 46 out of 50 metro markets have home price levels that are at pre-2003 levels. Twenty-five of 50 markets are reporting prices below 2000 levels. “With the majority of metro markets still so far below peak prices, it’s time for conversations surrounding price trends to shift away from the 2006 peak as the point of reference, and back to current trends and forecasts,” says Villacorta. “While there are certainly investors and homeowners holding real estate assets that will be underwater for seven years or more, the current housing market is positioned to behave very similar, or even below, historical norms, given the current economic climate.””

Sanibel & Captiva Islands Multiple Listing Service Activity January 31-February 7

Sanibel
CONDOS
8 new listings: Sundial #D307 1/1 $268K, Sundial #G305 1/1 $339K, Loggerhead Cay #461 2/2 $509K, Sandpiper Beach #302 2/2 $599K, Sundial #Q302 2/2 $649K, Nutmeg Village #105 2/2 $689.9K, Pointe Santo #E21 2/2 $725K, Pine Cove #C 2/2 $839K.
2 price changes: Beach Road Villas #103 2/2 now $359K, Kings Crown #210 2/2 now $649K.
1 new sale: Kings Crown #218 3/2 listed for $1.25M.
2 closed sales: Sundial #L304 2/2 $930K, Golden Beach #2 3/2.5 $1.05M.

HOMES
14 new listings: 531 Birdsong Place 3/2 $448K, 1555 Bunting Ln 2/2 $449K, 2186 Egret Cir 3/2 $475K, 315 East Gulf Dr 2/2 half-duplex $479K, 317 East Gulf Dr 2/2 half-duplex $499K, 460 East Lake Rd 2/2 $589K, 923 Pepper Tree Pl 3/2 $729K, 3351 Barra Cir 3/2.5 $939K, 231 Daniel Dr 3/2.5 $998.5K, 1740 Middle Gulf Dr 4/3 $999K, 660 Anchor Dr 3/4 $1.2M (short sale), 3400 West Gulf Dr 4/3 $1.249M, 829 Pyrula Ave 3/3 1.279M, 1048 Kings Crown Dr 4/4 $1.395M.
8 price changes: 966 Fitzhugh St 2/1 now $334K; 236 Hurricane Ln 3/3 now $549K; 1213 Par View Dr 3/2.5 now $770K; 501 Sea Walk Ct 3/2 now $849K; 512 Periwinkle Way 3/3 now $950K; 2520 Harbour Ln 3/2.5 now $1.195M; 909 Lindgren Blvd 4/3 now $1,199,999; 696 Kinzie Island Ct 4/5 now $2.549M; 1206 Bay Dr 4/4.5 now $3.495M.
7 new sales: 9459 Begonia Ct 3/4 listed for $549.9K, 1705 Serenity Ln 3/2.5 listed for $574.5K, 9474 Balsa Ct 3/3.5 listed for $895K, 988 Whelk Dr 3/2.5 listed for $1.095M, 5423 Osprey Ct 3/2.5 listed for $1.479M, 2964 Wulfert Rd 5/5.5 listed for $1.947M, 906 Snowberry Ln 4/4.5 listed for $4.35M.
3 closed sales: 984 Sand Castle Rd 3/2.5 $332.5K, 420 Lighthouse Way 3/2 $475K, 6123 Starling Way 3/2.5 $805K.

LOTS
4 new listings: 2486 Wulfert Rd $219K (short sale), 9232 Dimmick Dr $235K, 3334 Saint Kilda Rd $325K, 9066 Mockingbird Dr $410K.
2 price changes: 3037 Poinciana Cir now $199,555; 761 Donax St now $219K.
1 new sale: 3351 Saint Kilda Rd listed for $349,555.
No closed sales.

Captiva
CONDOS
1 new listing: Beach Homes #3 3/2 $1.899M.
No price changes.
2 new sales: Bayside Villas #5132 1/2 listed for $273.9K, Ventura Captiva #2B 3/3 listed for $799K.
No closed sales.

HOMES
3 new listings: 11541 Laika Ln 4/4 $1.65M, 11527 Andy Rosse Ln 4/4 $2.695M, 17130 Captiva Dr 4/4 $4.949M.
1 price change: 11490 Dickey Ln 3/2 now $849K.
No new or closed sales.

LOTS
Nothing to report.

Chilly Weather, But Still Lots of Real Estate Happenings in Orlando & Sanibel Island

Posted on January 24, 2014 by SanibelSusan

It’s SanibelSusan reporting from Orlando that it was 46 degrees both here and on Sanibel this morning. Most of us are ready for this cold weather to be gone. It looks like Sanibel finally could get into the low 70’s again by tomorrow, but another cool-front is on its way next Wed. Ugh!

Yesterday, I finished up on the all-day audition panel for new real estate instructors and have been enjoying networking here with the Florida Realtors 2014 leadership team. Last night, the Sanibel and Captiva Islands Association of Realtors® again was recognized for their significant RPAC (REALTOR® Political Action Committee) contributions. This year, we took away four of the five awards presented to a small board, which is a new record for us.

L to R, from The Sanibel & Captiva Islands Assoc of Realtors: Shane Spring 2013 Realtor of the Year, SanibelSusan, Peggy Hummel CEO, Eric Pfeifer 2014 Prez-Elect, & Bill Robinson, MLS Director.

With flood insurance and water quality being such important issues in island real estate sales and property values, our association benefits from every cent that we collect and contribute to political action. Last night after the awards ceremony, several of us met with a national association Washington staff member. He gave us his prognosis on what is happening with the related bills currently on the hill. More pressure is needed on both of these issues.

At dinner last night, we also ran into one of the seven FREC (Florida Real Estate Commission) members. FREC is the group that administers and enforces state real estate laws. We are hoping to get her to Sanibel this year for an educational event for our members.

Subcommittee meetings are today, followed by committee meetings and forums tomorrow. Then after the 2014 Officers are installed tomorrow night, the Florida REALTORS® Directors meet bright and early Sunday morning. If all goes well, I’ll be back in the office by early afternoon. Lots of progress has already been made here for our industry (and I’ve gotten some referral business too). I am excited that I was asked to be part of the new Professionalism group that meets for the first time this afternoon. Tomorrow is the big day with our Professional Standards skit and the Resort and 2nd Home Property Specialist Forum.

Here are a couple of other news items, followed by the action posted in the Sanibel & Captiva Islands Multiple Listing Service over the past seven days.

Tarpon Bay Explorers Schedule

A few folks recently have told me that they were not aware of the many activities available through Tarpon Bay Explorers. Here is an abbreviated schedule. Confirm the schedule at http://www.tarponbayexplorers.com. Reservations are needed for most events.

Kayak Trail Tour: Daily at 8:30 a.m. & 10:30 a.m. or 11:30 a.m.; 1 or 2:30 p.m.

Sunset Rookery Paddle: Daily 2 hours before sunset.

Standup Paddleboard Tour: Tues, Thur, Sat at 9 a.m.

Breakfast Cruise: Mon, Wed, Fri at 8:30 a.m.

Nature & Sea Life Cruise: Daily at 11 a.m. & 1:30 p.m.

Evening Cruise: Daily 2 hours before sunset

Aquarium & Touch Tank: Daily at 11 a.m. & 1:30 & 3 p.m.

Refuge Tram Tour: Daily (except Fri) hourly 10 a.m. to 4 p.m.

Rentals & Fishing Charters: Daily 8 a.m. to 5 p.m., 8 a.m. to 6 p.m. starting Feb 15.

Loan Demand Back On the Upswing

On Wed, “Daily Real Estate News” sourced this article to “The Wall Street Journal”:

“After reaching a 13-year low at the end of last year, mortgage applications were back on the rise last week, the Mortgage Bankers Association reports. Mortgage applications, which include those for refinancing and home purchases, rose 4.7% on a seasonally adjusted basis for the week ending Jan 17. Broken out, demand for applications for refinancings increased 10% over the prior week, while applications for home purchases, viewed as a future gauge of home buying, dropped 4%, the MBA reports.

“The MBA’s mortgage application index had posted its lowest level in about 13 years at the end of last year, when the Federal Reserve announced it would be tapering its $85 billion per month bond-buying program in the new year. However, for the last two weeks, mortgage rates have been declining. The average rate on 30-year fixed-rate mortgages fell from 4.66% to 4.57% last week, MBA reports. That marks the lowest average for 30-year rates since this past November, according to the MBA.”

Sanibel & Captiva Multiple Listing Service Activity January 17-24

Sanibel

CONDOS

10 new listings: Sundial #D207 1/1 $269K, Tennisplace #B24 2/1.5 $325K, Sundial #D304 1/1 $339K, Loggerhead Cay #583 2/2 $595K, Kings Crown #210 2/2 $695K, Sanibel Surfside #133 2/2 $929K, High Tide #A101 3/2 $1.199M, Pine Cove #302 2/2 $1.2M, Somerset #301 3/2.5 $1.899M, Sedgemoor #106 3/3.5 $2.935M.

5 price changes: Beach Road Villas #103 2/2 now $369K, Seawind #A102 2/2.5 now $397.9K, Loggerhead Cay #453 2/2 now $547.9K, Pelicans Roost #101 2/2 now $775K, Sanddollar #C101 2/2 now $854K.

3 new sales: Duggers Tropical Cottages #5 1/1 listed for $289.9K, Blind Pass #C203 3/2 listed for $499K, Atrium #206 3/2 listed for $1.295M.

No closed sales.

HOMES

5 new listings: 972 Fitzhugh St 3/2 $379K, 490 Elizabeth Rd 2/2 $419.5K, 419 Lighthouse Way 4/3 $895K, 5427 Osprey Ct 3/3.5 $1.247M, 906 Snowberry Ln 3/3.5 $4.35M.

8 price changes: 1826 Ardsley Way 4/3 now $484.7K, 421 Lake Murex Cir 3/2 now $569K, 617 E Rocks Dr 3/2 now $599.9K, 3168 Twin Lakes Ln 3/2 now $619K, 1306 Par View Dr 3/3.5 now $799K, 1500 Angel Dr 3/2 now $1.249M, 1480 Angel Dr 3/3 now $1.499M, 2981 Wulfert Rd 4/4.5 now $1.749M.

4 new sales: 1475 Court Pl 2/1 listed for $289K, 2529 Harbour Ln 3/3 listed for $725K, 1444 Causey Ct 4/4 listed for $1.1M, 4994 Joewood Dr 3/3.5 listed for $1.459M.

3 closed sales: 1645 Sand Castle Rd 3/2.5 half-duplex 3/2.5 $395K, 398 Old Trail Rd 3/3 $320K, 575 Kinzie Island Ct 3/3 $1.25M.

LOTS

2 new listings: 898 Rabbit Rd 299K, 218 Violet Dr $390K.

No price changes.

1 new sale: 1837 Buckthorn Ln listed for $349K.

No closed sales.

Captiva

CONDOS

3 new listings: Beach Villas #2618 2/2 $685K, Captiva Bay Villas #B 3/3.5 $1.875M, Beach Homes #18 4/3 $2.675M.

No price changes, new or closed sales.

HOMES

2 new listings: 16813 Captiva Dr 3/2.5 $1.995M, 16428 Captiva Dr 7/8/2 $10.75M.

No price changes.

1 new sale: 17041 Captiva Dr 2/2 listed for $1.695M.

3 closed sales: 15631 Captiva Dr 5/4.5 $1.55M, 15899 Captiva Dr 4/3 $2.71M, 16838 Captiva Dr 7/7.5 $4.5M.

LOTS
Nothing to report.
This representation is based in whole or in part on data supplied by the Sanibel & Captiva Islands Association of Realtors or its Multiple Listing Service. Neither the association nor its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or its MLS may not reflect all real estate activity in the market. The information provided represents the general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions. If your property currently is listed with another broker, this is not intended as a solicitation of that listing.

Here’s hoping it warms up sooner rather than later, my flip flop wearing feet are chilly! Happy weekend, SanibelSusan

Egrets Were Shivering This Morning on Sanibel Island

Posted on January 17, 2014 by SanibelSusan

It’s SanibelSusan reporting that we have had our heat on for another two nights this week, which has been novel for us locals, but not so much fun for the visiting vacationers. Though there was a freeze warning last night in Lee County, the island only experienced temperatures in the 40’s. It warmed up to the mid-60’s this afternoon. Daytime temperatures are expected to remain in the 60’s and low 70’s right into the middle of next week. Thank goodness the skies are bright and sunny, or there would be more grumbling.

Here’s a photo of the many egrets trying to warm up by sitting on the sunny cars parked behind our office this morning. Quite a sight!

They had moved to the roof tops by early afternoon when things warmed up.

Prospective buyers often prefer looking at property on these cooler off-beach days so many Realtors® were out showing this week. Periwinkle Way is busy with extra day-tripper and shopper traffic too. There are lines at most restaurants and traffic jams at the 4-way stops. “High season” arrived right on schedule Jan 15th. It’s already looking like we are going to have a very active productive winter this year! We are so ready for that!

4 Keys Identified for a Full Housing Recovery

“Daily Real Estate News” online today sourced the following article to “Mortgage Daily News”:

“In order to have a fully recovered housing market and economic recovery, economists point to the need for four positive indicators:
1. A healthy job market with low stable unemployment;
2. Mortgage delinquencies that have returned to historical averages;
3. Home prices consistent with an affordable mortgage payment–to–income ratio; and
4. Home sales that are in the range of historical norms.

“So, is the housing market inching closer?

“Freddie Mac’s U.S. Economic and Housing Market Outlook for January takes a look at how the housing market is performing among these four indicators. Economists note that the unemployment rate — while inching down — still remains high at 6.7%. Meanwhile, mortgage delinquencies have fallen to 5.88% — nearly half of their peak rate but still higher than the national average of about 2%, Freddie notes.

“Home prices still have some room to grow without outpacing income growth, economists say. “From 1999–2006, mortgage payments on a hypothetical 30-year fixed-rate mortgage would have increased by 50% more than income growth,” Freddie Mac notes in the report. “Currently, payment-to-income ratios are only 60% of the level we had in 1999, suggesting room for continued housing growth.”

“Finally, home sales have risen over the past two years but remain below levels from nearly a decade ago. Home sales, historically, average a rate of about 6 percent of the housing stock every year. They dropped to 4% during the housing crisis. Economists are predicting a 5.7% pace in 2014. “As we start 2014, the housing recovery continues its steady pace,” Frank Nothaft, Freddie Mac’s chief economist. “House-price gains will likely moderate from last year’s pace but rise about 5% in national indexes. Home sales, as well as other key indicators, continue to trend in the right direction, although in some markets we are seeing the sales recovery strengthen while many others remain weak.”

Sanibel & Captiva Islands Multiple Listing Service Activity January 17-24, 2014

Sanibel
CONDOS
4 new listings: Sanibel Moorings #422 2/2 $475K, Lighthouse Point #324 3/2 $679.9K, Sundial #O307 2/2 $975K, Signal Inn #18 3/2 $1.049M.
1 price change: Sundial #H407 1/1 #399K.
4 new sales: Mariner Pointe #112 2/2 listed for $569K (our Buyer), Heron at The Sanctuary II #2A 3/2.5 listed for $609K, Island Beach Club #220D 2/2 listed for $849K, Sundial #L304 2/2 listed for $995K. 1 closed sale: Mariner Pointe #1083, 2/2 for $350K.

HOMES
9 new listings: 1596 Bunting Ln 2/2 $419K; 600 East Rocks Dr 3/2 $535K; 3001 Singing Wood Dr 3/2 $585,555; 4472 Waters Edge Ln 3/3 $849K; 529 Lighthouse Way 3/3 $985K; 466 Sea Oats Dr 4/3.5 $995K; 9007 Mockingbird Dr 3/3 $1.035M; 1500 Angel Dr 3/2 $1.279M; 4577 Waters Edge Ln 4/3 $2.95M.

6 price changes: 9459 Begonia Ct 3/4 now $549.9K, 1342 Junonia St 3/3 now $579K, 1748 Jewel Box Dr 4/4 now $1.298M, 842 Limpet Dr 3/3.5 now $1.695M, 2964 Wulfert Rd 5/5.5 now $1.947M, 1266 Isabel Dr 3/3 now $2.095M.

5 new sales: 579 Rabbit Rd 3/3.5 listed for $574,555; 1342 Sand Castle Rd 3/2 listed for $599K; 5750 Pine Tree Dr 2/2 listed for $699K; 5742 Pine Tree Dr 4/2 listed for $749K, 720 Periwinkle Way 3/3.5 listed for $1.379M.

7 closed sales: 960/964 Palm St 3/3 $450K (short sale), 1009 Dixie Beach Blvd 3/2 $495K, 4515 Bowen Bayou Rd 3/2 $530K, 1419 Albatross Rd 3/3 $715K, 2367 Wulfert Rd 4/3.5 $1.188M, 775 Limpet Dr 3/3 $1.5M, 431 Bella Vista Way E 3/3 $2.4M.

LOTS
2 new listings: 2324 Starfish Ln $549K, 3723 West Gulf Dr $3.295M.

1 price change: 5627 Baltusrol Ct now $410K.

No new sales.

1 closed sale: 4954 Joewood Dr $365K.

Captiva
CONDOS
1 new listing: Bayside Villas #4210 1/2 $299.5K.
1 price change: Sunset Beach Villas #2332 2/2 now $765K.
1 new sale: Captiva Hide-A-Way #2B 2/2 listed for $899K.
No closed sales.

HOMES
2 new listings: 15017 Binder Dr 3/3.5 $3.899M, 15300 Captiva Dr 16/12.5 multi-family $12.998M.

3 price changes: 16785 Captiva Dr 4/3.5 now $1.795M, 16447 Captiva Dr 7/6/2 now $2,999,999 (short sale), 16645 Captiva Dr 7/6/2 now $3.55M.

1 new sale: 51 Oster Ct 2/2.5 listed for $795K.
No closed sales.

LOTS
Nothing to report.

Here’s to warmer weather & a happy weekend – here, there, & wherever you are!

Sanibel & Captiva Islands Real Estate Comes With Wonderful Weather

Posted on January 3, 2014 by SanibelSusan

SanibelSusan reports this week that the team and I are very thankful to be living in Southwest Florida. Folks flying in and out of RSW have had some delays, but those here this week just enjoying Sanibel and Captiva have had fabulous weather, particularly when compared to the rest of the nation. The residual effect of the northern storms brought a cool down here today. From temperatures in the high 70’s/low 80’s most of the week, today it is not expected to reach the 70’s – a nice change and a chance to wear long sleeves. Warm weather returns tomorrow, with the next chill not expected until Mon night into Tues.

It will be interesting to hear if the Sat check-outs will be able to get back home. Rental managers already advise that they have received calls from renters requesting late departures or extended stays. The local news last night reported a Canadian family trying to fly home that has been delayed 5 days because of airport closings and connecting flights. What a great reason to buy property here!

Our condo listings were all occupied this week, so there will be a flurry of showings mid-day tomorrow as some of these guests depart and units are cleaned before the next arrivals. Like last Sat, I’ll be out showing homes again too.

After a few news items, below is a report of the Sanibel and Captiva Islands Multiple Listing Service action over the last week.

Sanibel & Captiva Islands Association of REALTORS®

With no REALTOR® Caravans last week or this, it will be back to our regular Thurs morning schedule next week, alternating each week between east-end and west-end. During the busy winter season, we will continue to hold listings open as they are vacant on Thurs mornings. Serious prospective buyers learn that the islands have their most open houses during that time.

Next Sat is the Installation and Awards Banquet for our Sanibel and Captiva Islands Association of REALTORS®. With a record number of reservations made, we are excited that Florida REALTORS® 2014 President Sherri Meadows and National Association of REALTORS® 2016 President Tom Salomone will be here to perform the installations. Yours truly is the emcee. Should be fun!

Sanibel Hiking & Cycling Trail Improvements

An article on News-Press.com this week included the following information about the upgrades coming to an off-the-beaten path hiking and cycling trail on Sanibel:

“City officials say construction started last week on one of two boardwalks for the Pond Apple Park Trail that runs parallel to Causeway Boulevard and Periwinkle Way. The rest of the trail will remain unpaved, but a layer of shell will be added. Removing non-native invasive plants and creating a new, wildlife-friendly pond also is on the agenda. When completed in the next six to eight weeks, this trail north of Periwinkle Way not only will be accessible most of the year to wheelchair users and others, it will:

• Connect two city parks, Pond Apple Park and Roadside Park

• Lengthen a 1.6-mile-long trail network to 2.4 miles, end-to-end

• Link 74 acres of nature preserves

• Provide another option to the city’s popular 22.6-mile network of paved, shared-use paths.

“For folks desiring a longer trek or ride, the trail system is accessible to the paved path along Periwinkle, via a crosswalk at Roadside Park.

“James Evans, city director of natural resources, calls the trail a “tool to get the people out to enjoy the nature, and see why they’re buying these lands” for conservation. The trail meanders behind several businesses, including Bennett’s Fresh Roast coffee and doughnut shop and the Lazy Flamingo restaurant and Dairy Queen restaurants. At this time, there is no plan to connect business properties to the trail, although Evans didn’t rule that out after all of the improvements are made.

“The city purchased the tract now called Pond Apple Park in 2001, after a voter referendum. It’s made improvements as grant monies became available; however, the process ramped up through partnerships with the state Department of Environmental protection and the Sanibel Captiva Conservation Foundation.

The foundation owns the former homestead of the pioneering Bailey family, best known today for Bailey’s General Store. Pond Apple Park Trail will connect to the Shipley Trail that runs behind the Baileys’ old home, but currently is closed to public use.

“Foundation officials are leery of talking about their plans until they have all of the permits. A fundraising page at sccf.org mentions such possible future public activities at the homestead property as a native plant nursery and a butterfly house, and self-guided house tours.

“Pond Apple Park Trail currently has a marked trailhead adjacent to the parking lot for the Sanibel & Captiva Islands Chamber of Commerce at 1159 Causeway Blvd. Evans took a reporter on the Pond Apple Park and Shipley trails for a show-and-tell recently. He noted that exotics removal and pond creation are intended “to create a mosaic of habitats so the wildlife can thrive.”

“Wildlife already is robust along the trail, and includes a bald eagle nest as well as alligators and an array of birds that frequent a pond of treated wastewater that’s stored for use in residential and golf course irrigation. Habitats include a pond apple slough, pine flat woods and a tropical hardwood hammock.

The stretches of boardwalk, 270 and 420 linear feet respectively, will have aluminum rails. The composite decking with a wood-grain look and a non-slip surface will be about 18” off the ground. This will permit water flow, but make cycling and hiking safer in the wet months.

“Most of the boardwalk will be 8′ wide, allowing for easy passing of hikers and cyclists. However, for the longer boardwalk in the Schlosser Preserve, one section will be 12′ wide and include a bench overlooking a pond. And, at different points along the trail system, you’ll see benches, a Miccosukee-built chickee-style picnic pavilion and a gazebo very recently built by the all-volunteer Hammerheads group. When the longer trail system debuts in March, there’ll be a trail information kiosk at Roadside Park. People can use chamber of commerce restrooms during business hours. Both the chamber and Roadside Park have outdoor drinking fountains. The chamber’s lot has eight parking spaces trail visitors may use, all at no charge; Roadside Park has at least twice as many spaces, all free.”

The article also included some fun “Pond apple facts” sourced to the education staff at Naples Botanical Garden: “Pond apple is a swamp and slough tree (up to 40 feet tall) with glossy green leaves, yellowish flowers with red bases, and fruit with a pear- or mango-like shape. The fruit’s scent has been likened to ether. Its taste is poor: nothing like a grocery store apple. Flowering typically occurs April through June, with fruit ripening into the autumn. Even though pond apples are not popular human food, ripe fruit may drop into the water and provide food for wildlife, such as raccoons or alligators.”

Happenings at J.N. Ding Darling Wildlife Refuge

“Ding Darling News” on-line this week, says:

“From birding and biking the Refuge, to learning about gators and crocs, the seasonal calendar of FREE programs and tours at the Refuge begins today, Jan 2, 2014, and runs through Apr 25.

Click here for a complete calendar of free activities and descriptions.”

NAR: Housing Market Is Stabilizing

REALTOR®Mag on-line today posted the following positive news:

“Contracts to buy new homes leveled off in Nov, ticking up slightly by 0.2%, the National Association of REALTORS® reports. Pending home sales — which reflect contracts and not closings — were 1.6% below year-ago levels. “We may have reached a cyclical low because the positive fundamentals of job creation and household formation are likely to foster a fairly stable level of contract activity in 2014,” says Lawrence Yun, NAR’s chief economist. “Although the final months of 2013 are finishing on a soft note, the year as a whole will end with the best sales total in seven years.”

“Pending home sales in Nov posted the largest gains in the South and West, rising 2.3% and 1.8% month-over-month, respectively. The increases helped to offset declines in pending home sales in the Northeast (down by 2.7% in Nov) and the Midwest (down by 3.1%).

“Total existing-home sales are expected to end the year with nearly a 10% gain over 2012. However, Yun says that existing-home sales will likely remain at around 5.1 million in 2014. A rise to 5.3 million in existing-home sales is expected for 2015.

“Existing-home prices for 2013 are expected to be about 12% higher than year-ago levels, averaging $197,300. NAR predicts that home prices will grow modestly in 2014 at a pace of 5 to 5.5%, and values will increase another 4% in 2015.”

More Than 3 Million Regained Equity in 2013

Another on-line article sourced to HousingWire (Dec 30, 2013) also has positive news:

“Home prices rebounded in 2013, helping more than 3 million home owners regain long-lost equity, according to CoreLogic’s latest MarketPulse report. “We’re encouraged by the improvements of the past year and have every reason to be cautiously optimistic about continued progress in 2014. That said, monitoring the current and potential headwinds the industry faces is critical,” says Anand Nallathambi, president and CEO of CoreLogic. More than two-thirds of all homes with a mortgage now have at least 20% equity, giving home owners more options in the housing market in the new year and increasing their employment mobility.

“Still, 6.4 million residential properties have negative equity, and a third of those are concentrated in five states: Nevada, Florida, Arizona, Ohio, and Georgia. Some of the biggest jumps in home prices over the last six months have occurred in Chicago and Raleigh, NC, CoreLogic reports. “That acceleration is consistent with our prior analysis, which showed that Chicago has had the most rapid growth of any market for owner-occupied purchase transactions in the past two years,” the report said.”

App for Homeowners

In the Jan/Feb “FloridaRealtor®” magazine that arrived this week, there is info on a cool new-home project estimator app. “HomeZada is a new app for Android and iOS that enables homeowners to determine how much a project is going to cost and the supplies that will be needed; to comparison shop; and to track their budget until project completion. Hundreds of home improvement projects are already loaded into the app. Check out the shopping lists! Get it at homezada.com, free for basic.”

Florida TaxWatch Reviews Flood Insurance

Another article from the same “FloridaRealtor®” magazine continues the discussion on flood insurance in Florida. When showing property today, the most frequent questions from prospective buyers and sellers are about flood insurance.

“A new study by Florida TaxWatch, a non-partisan research group, confirms what Florida Realtors® has said all along: Florida policyholders make a major financial contribution to the National Flood Insurance Program (NFIP) but not its biggest beneficiary.

“Congress passed the Biggert-Waters Flood Insurance Reform Act of 2012 to help reduce the $25 billion debt of the NFIP by bringing rates charged more in line with the risk and losses in flood-prone areas. Many discounts and subsidies policyholders received in the past will be eliminated or phased out.

“The Florida TaxWatch study found:

Most of NFIP’s current $25 billion debt is due to claims from Hurricane Katrina and Hurricane Sandy, which had minimal impact on Florida.
Floridians paid $3.60 in premiums for every $1 collected in flood claims from the program.
Eleven states (not Florida) have received more in payouts over the 30-year period of the study than their policyholders paid in premiums, with six of those states receiving at least double the amount that policyholders paid in premiums.

“The complete Florida TaxWatch study and other flood insurance information are available from the Florida Insurance Toolkit at floridarealtors.org.”

Sanibel & Captiva Islands Multiple Listing Service Activity Dec 27, 2013 – Jan 3, 2014

Sanibel
CONDOS
4 new listings: Coquina Beach #F 2/2 $575K, Nutmeg Village #103 2/2 $612K, Kings Crown #218 3/2 $1.25M, Sanibel Seaview #B2 2/2 $1.395M
2 price changes: White Pelican #123 2/2 now $799K, Pine Cove #1A 2/2 now $849K.
No new sales.
4 closed sales: Colonnades #13 1/1 $150K (short sale), Beach Road Villas #106 2/2 $287.5K, Oceans Reach #4C2 2/2 $779K, Gulfside Place #121 2/2 $928K.

HOMES
6 new listings: 1890 Farm Trail 3/2 $489K, 450 Lake Murex Cir 3/2 $569K, 566 N Yachtsman Dr 3/2 $995K, 2405 Wulfert Rd 4/5.5 $1.949M, 1306 Seaspray Ln 3/4 $4.195M, 5615 Baltusrol Ct 4/4/3 $4.699M.
4 price changes: 970 Sand Castle Rd 3/2 now $525K, 1824 Woodring Rd 4/4 now $1.395M, 5423 Osprey Ct 3/2.5 now $1.479M, 3744 West Gulf Dr 4/4 now $1.795M.
3 new sales: 398 Old Trail Rd 3/3 listed for $499K, 696 Durion Ct 3/2.5 listed for $599K, 211 Daniel Dr 3/2 listed for $749.9K.
3 closed sales: 731 Nerita St 3/2 $540K, 9405 Beverly Ln 3/2 $650K, 1950 Woodring Rd 3/3.5 $1.8M.

LOTS
1 new listing: 592 Sea Oats Dr $350K.
1 price change: 761 Donax St now $224K.
No new sales.
1 closed sale: 1344 Eagle Run Dr $250K.

Captiva
CONDOS
Nothing to report.

HOMES
2 new listings: 51 Oster Ct 2/2.5 $795K, 16790 Captiva Dr 5/5 $5.9M.
1 price change: 15631 Captiva Dr 5/4.5 now $1.715M.
No new or closed sales.

LOTS
Nothing to report.

Until next Friday, here’s to another successful selling season on Sanibel & Captiva Islands where even the winter weather is warm!

Market Upswing Continues on Sanibel & Captiva Islands

Posted on September 20, 2013 by SanibelSusan

Not quite as much real estate action on Sanibel this week as last, but there still are a few things to report which makes it a better than usual September. SanibelSusan got a nice new listing at Pointe Santo (see photo of the view above & the beach below), we had a lot listing go under contract, yesterday we had a productive meeting at the Association of Realtors® plus had a new home listing on caravan, and today we got a good call about another new listing. Here are a couple of news items, followed by the activity posted over the last seven days in the Sanibel and Captiva Islands Multiple Listing Service.

Realtor® Monthly Membership Meeting & Some Sanibel Scoop

The Sanibel and Captiva Islands Association of Realtors® had one of their best-attended monthly membership meetings yesterday, with a standing-room-only crowd by 8 a.m. Our local District Vice President Gary Verwilt was a special guest. Our district covers the nearby Realtor® Associations which include, in addition to Sanibel and Captiva Islands, the Bonita Springs – Estero Association, the Cape Coral Association, the Realtor® Association of Greater Fort Myers and the Beach, the Marco Island Area Association, and the Naples Area Board. We like networking with our surrounding colleagues so they will sell our listings too.

Gary offered special kudos to the Sanibel and Captiva Islands Association for our strong efforts toward improving water quality and for our 2013 RPAC achievements. It looks like we will garner some state awards again this year for our Realtors® participation and many contributions. During the next two weeks, two of our board members will be traveling to the state capitol in Tallahassee and then on to Washington DC to continue the fight for clean water.

Our featured speaker was Sanibel Mayor Kevin Ruane who gave us some good news on recent budget meetings. City finances are strong with real estate taxes being cut for the sixth year in a row – though he noted that only 12-cents from every real estate tax dollar come back to the island. City debt has been reduced $45 million, while $17 million have been added to reserves.

Mayor Ruane also offered some insight into the City’s progress in creating a new “Cultural Core” area where residents and visitors will be able to walk to events and connectivity will be provided to local amenities. The City is working toward this development in cooperation with several local organizations, including The Community House, BIG ARTS/Playhouse, the Library, and the Sanibel Historical Village and Museum. Currently the 25 acres near City Hall are being considered for development and grants are being explored.

Realtors® thanked the Mayor for City support regarding the current flood insurance bill that could delay some of the upcoming changes in how those insurance premiums will increase for Floridians. In commenting, he referred back to his insurance background. Particularly noteworthy is that Florida has contributed $16 billion to the federal flood insurance program, but has only received $4 billion in benefit. We all know there is something wrong with that picture! That fight must continue too!

More on Water Quality

The Sanibel-Captiva Conservation Foundation (SCCF) September newsletter has several excellent articles about water quality and how you can help. The rainy season is almost over and we cannot have the squeaky wheel stop squeaking. It will be back again next summer. Click here for the newsletter.

At the bottom of page 8, SanibelSusan got a little free press too. It is in the article about our recent Realtor® continuing education class at SCCF. Thank you, Kristie Anders!

Openings & Closings

The Over Easy Cafe and the Lighthouse Cafe both are back open. Hooray!

Noah’s Ark reopens October 1.

Wildlife Drive in the J.N. “Ding” Darling Wildlife Refuge reopens October 1.

The Shell Museum is closed until October 7 for renovations.

Event Reminders

Tomorrow, September 21 is international Coastal Cleanup. To participate, be at SCCF between 9 a.m. and noon.
Taste of the Island will be returned to The Dunes. This annual fundraiser for CROW is November 10.

Florida’s Housing Market Continued Upswing in August 2013

FloridaRealtors® on-line posted the following article mid-week. All good news for Florida’s recovering real estate market.

“Florida’s housing market continued its positive trend in August with increased closed sales, higher median prices, more pending sales and a stable supply of homes for sale, according to the latest housing data released by Florida Realtors®. “Both sales and prices demonstrate that Florida’s housing market is growing and continuing to gain strength,” says 2013 Florida Realtors President Dean Asher, broker-owner with Don Asher & Associates Inc. in Orlando. “The growth in jobs and other positive signs are putting buyers at ease with how the economy is progressing. At the same time, prices are encouraging sellers to get off the fence and helping to ease inventory pressures. “August is the 20th month in a row that we’ve seen the statewide single-family home median sales price increase year-over-year.”

“Statewide closed sales of existing single-family homes totaled 20,933 in August, up 12.5% compared to the year-ago figure, according to data from Florida Realtors Industry Data and Analysis department in partnership with local Realtor boards/associations. Closed sales typically occur 30 to 90 days after sales contracts are written.

“Meanwhile, pending sales – contracts signed but not yet completed or closed – for existing single-family homes rose 17.2% over the previous August. The statewide median sales price for single-family existing homes last month was $175,000, up 18.6% from the previous year….”

Sanibel & Captiva Islands Multiple Listing Service Activity from September 13-20

Sanibel
CONDOS
3 new listings: Mariner Pointe #732 2/2 $389K, Pointe Santo #C34 1/1 $499K (our listing), Sanibel Inn #3535 2/2 $699K.
2 price changes: Sundial #H111 1/1 now $269K, HighTide A101 3/2 now $1.199M.
2 new sales: Sanibel Arms West #M4 2/2 listed for $450K, Atrium #307 2/2 listed for $1.2M.
3 closed sales: Spanish Cay #C3 2/2 $325K, Pointe Santo #D24 2/2 $620K, Sundial #R202 2/2 $603K.

HOMES
No new listings.
2 price changes: 720 Periwinkle Way 3/3.5 now $1.379M, 2964 Wulfert Rd 5/5.5 now $1.997M.
2 new sales: 420 Lighthouse Way 3/2 listed for $589K, 6014 White Heron Ln 3/3.5 listed for $1.35M.
1 closed sale: 916 Palm St 5/4 multi-family $529K.

LOTS
No new listings or price changes.
1 new sale: 1847 Farm Trl listed for $224K (our listing).
No closed sales.

Captiva
CONDOS
No new listings or price changes.
3 new sales: Beach Villas #2611 2/2 listed for $610K, Gulf Beach Villas #2008 2/2 listed for $649K, Sunset Beach Villas #2238 listed for $825K.
1 closed sale: 2512 Wulfert Rd $231.5K.

HOMES
No new listings.
1 price change: 4 Sunset Captiva Ln 2/2 now $2.395M.
1 new sale: 14971 Binder Dr 4/3 listed for $2.695M.
1 closed sale: 15160 Captiva Dr 6/6.5 $1.8M.

LOTS
Nothing to report.

Here’s to another sunny weekend, wherever you are.

Below is a photo shared by teammate Lisa Murty. (After all the recent rain in southwest Florida, the vegetation is a vivid green and the local critters are happy!)

Sanibel Scoop & Captiva Chatter

SanibelSusan's Blog About What's Happening on the Islands

Tag Archives: Captiva Island

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